Tennessee Valley Asset Management Partners Acquires New Stake in Commercial Metals (NYSE:CMC)

Tennessee Valley Asset Management Partners acquired a new stake in shares of Commercial Metals (NYSE:CMC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,135 shares of the basic materials company’s stock, valued at approximately $107,000.

Several other institutional investors have also added to or reduced their stakes in CMC. HM Payson & Co. purchased a new stake in Commercial Metals during the 3rd quarter valued at $25,000. Headlands Technologies LLC bought a new position in Commercial Metals in the 3rd quarter worth $51,000. Planned Solutions Inc. bought a new position in Commercial Metals in the 4th quarter worth $73,000. Adirondack Trust Co. bought a new position in Commercial Metals in the 3rd quarter worth $84,000. Finally, Harbor Capital Advisors Inc. raised its holdings in Commercial Metals by 24.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,198 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 628 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Commercial Metals

In other news, CAO Lindsay L. Sloan sold 600 shares of Commercial Metals stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $51.52, for a total value of $30,912.00. Following the sale, the chief accounting officer now directly owns 12,338 shares of the company’s stock, valued at $635,653.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Lindsay L. Sloan sold 600 shares of Commercial Metals stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $51.52, for a total value of $30,912.00. Following the completion of the transaction, the chief accounting officer now owns 12,338 shares in the company, valued at $635,653.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Barbara Smith sold 23,619 shares of Commercial Metals stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $51.65, for a total value of $1,219,921.35. Following the completion of the transaction, the chairman now owns 72,400 shares of the company’s stock, valued at approximately $3,739,460. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,089 shares of company stock valued at $6,402,693. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. UBS Group started coverage on Commercial Metals in a report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price target on the stock. Finally, BMO Capital Markets raised their price target on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, March 22nd.

Commercial Metals Price Performance

NYSE:CMC opened at $55.12 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 4.19 and a debt-to-equity ratio of 0.27. The business’s 50-day simple moving average is $55.43 and its two-hundred day simple moving average is $50.19. The stock has a market cap of $6.38 billion, a PE ratio of 9.57 and a beta of 1.33. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, analysts forecast that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.31%. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 28th. Commercial Metals’s payout ratio is 12.50%.

Commercial Metals Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.